For People with
Bad Credit
The BankAmericard® Secured Credit Card lives up to its name. Not only does it help cardholders establish and restore their credit, but it also provides added security for shopping and banking online.
A minimum deposit of $300 is required to open this account. The maximum credit line, $4900, is determined by your income, the amount of the security deposit, and your ability to pay. After 12 months, you may get your security deposit back if your account is reviewed.
For People with
Bad Credit
Want to pay a bill or check your balance?
None
A balance transfer is a way to move credit card debt from one credit card to another with the goal of saving money on interest.
How balance transfers work
Borrowing cash on your credit card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.
How cash advances workCheck your card’s Guide to Benefits to learn the specific benefits your card offers and how to access them.
Not the card for you? Try one of these:
Read about experiences others have had with this card and leave your own review here.
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I applied for a Bank of America Secured credit card about 11 months ago. I was rejected immmediately. Once I was saw I was rejected I called the bank immediately and spoke to a representative. They explained Y I was denied. I asked If I was able to receive one with a deposit and yes. I gave an $ 800.00 deposit and got my card in the mail in about 1 week. I have been using them ever since. My review is coming up next month hope I can get my deposit back.
This card in my opinion is not for individuals with bad credit. I have bad credit and was denied immediately. They sent a letter in the mail that was basic and gave no real explanation for the denial. I found out my credit union had a secured card I applied and was approved with a fantastic Apr of 9.75. Because of BOA I now have a hard inquiry on my credit report. Do yourself a favor and don't apply for this card. There're way better offers out there.
Beware BOA does a hard pull inquiry on your credit report. There's not a guarantee you'll be approved. Try obtaining a secured credit card.
This card takes several days for checks and bank transfers to take place. Also allows for places like gas stations to add an extra $25+ on the charge for up to 8 days until they decide that you actually only purchased $10 worth of fuel. This card is advertised as being an alternative to check cashing places but it's really only for people with extra money to spend.
I applied for this card and offered $1,000 as a deposit and got rejected. The reason being was that my credit was not good enough. My mind was blown that I could not get a secured card with a bank I have been with for years. I went to capital one and was approved instantly. I now have 2 capital one cards that are unsecured.
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